UK Treasury proposes delay for MiFID

LONDON – The UK Treasury has proposed a six-month delay for the implementation deadline of the Markets in Financial Instruments Directive (MiFID), to November 2007.

The request, which came in a paper addressed to the Working Party on Financial Services at the European Commission (EC) in Brussels, was put forward for discussion on Monday, Oct. 17, officials say.

While the proposed MiFID regulations from the European Union (EU) are currently due to be written into legislation by October 2006 and to be implemented by European securities firms by April 2007, the UK paper proposes extending the deadlines to Jan. 31 and Nov. 1, 2007 respectively. One source close

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